Gemini Wins Singapore Major Payment Institution License

Gemini said the Monetary Authority of Singapore granted the license to Gemini Digital Payments Singapore, completing a process that began with in-principle approval in October 2024. The company had already shifted Singapore customers from Gemini Trust Company to its locally incorporated entity in April while awaiting final approval.

The exchange, founded by Cameron and Tyler Winklevoss, has operated in Singapore since 2020 and says the city-state is a strategic base for spot trading, custody and over-the-counter services. The MPI designation is especially useful because it lets Gemini operate without the standard transaction-volume limits, though it also places the business under tighter oversight as MAS treats larger payment institutions as carrying greater systemic risk.

The timing lands against a difficult backdrop for crypto equities and sentiment. Gemini shares closed at $4.45 on Sept. 9, far below their 50-day moving average of $4.28 and 200-day average of $6.47 in the latest data, while Bitcoin sentiment tracked by Adalytica sat at “Extreme Fear.” Coinbase stock, another bellwether for the sector, ended at $174.72, down from recent highs, and MicroStrategy shares traded at $132.70 as the crypto-linked trade remained volatile.

For Gemini, the Singapore win strengthens a core narrative investors are watching across the sector: exchanges that can secure formal licenses and operate in major financial centers may be better positioned to capture institutional flows, payment rails and custody demand as regulators tighten standards. The next catalyst is whether Gemini can translate the license into revenue growth in Asia while the company also pushes into new products and broader distribution deals.